On: JP Morgan Unveils USD-Backed Cryptocurrency for B2...

[drcode]

That's not true, you are definitely trusting the database: In order to spend money, you need the cryptography to work but you ALSO need the canonical chain/database to record your transaction... you can't just send your signed message to another person to perform a transaction, the central entity mining the chain needs to still cooperate.

[dkoston → drcode]

maybe there was ambiguity in my post but I’m saying that this adds an additional layer of trust outside the database which is the signed token

In this case you’re trusting JPMC, the database, their engineers, the cryptography, etc.

For this use case, there is a major issue. Since you have no access to the token yourself, it’s just marketing hype